Mamaearth parent Honasa Consumer share price rises 8%: Jefferies sees it as high conviction pick with 34% more gains

The Derma Co., a skincare marque supported by progressive ingredients and owned by Honasa Consumer Limited, connected Monday announced that it has reached a noteworthy milestone: an yearly gross complaint of ₹500 crore.

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Honasa Consumer successful the merchandise said that pursuing Mamaearth,  it has erstwhile again shown the potency of its data-driven, on-trend innovation approach, enabling The Derma Co. to scope this important milestone.

Meanwhile Jefferies India Pvt Ltd successful its study dated 22 January said that the Investors' reservations astir Honasa's capableness to admit emerging trends and innovate with urgency & agility should beryllium allayed the  The Derma Co. success. 

This should besides springiness comfortableness connected the 20% positive maturation trajectory for Honasa Consumer contempt the probable slowdown successful Mamaearth connected a larger base. 

Further Analysts astatine Jefferies said that the company's maturation indispensable beryllium compared to that of its accepted FMCG (Fast moving user goods) peers, who are astir apt lone going to make astatine a half-speed.

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Jefferies analysts clasp Buy ratings with precocious conviction. Their people terms of ₹590 for the banal trading astatine ₹436 indicates much than 35% upside from hereon.

The Derma Co. Launched successful 2020,  was designed to beryllium an active-based tegument attraction care for conditions similar pigmentation, dryness, dullness, and acne etc. The merchandise contains important progressive ingredients including hyaluronic acid, salicylic acid, kojic acid, niacinamide, etc.

Today, The Derma Co. provides a wide scope of goods successful categories specified articulator balm, look wash, sunscreen, and tegument care. In FY24, Honasa Consumer had sold much than 10 cardinal units of The Derma Co.

Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier taking immoderate concern decisions

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Published: 23 Apr 2024, 03:44 PM IST